Personal Finance from the Broke Perspective
Interaction and companionship is an essential part of human life, and it has revolutionized to a whole different platform.
Parties and playgrounds were the traditional setting and circumstances of creating friendships, but times have changed and evolved the ways of seeking new connections. [Read more…]
Technological advancements are happening every minute, and they have simplified our lives to a great extent. Whether its online shopping or games, people prefer to perform any activity without leaving their comfort zones.
The online slot gaming industry is booming, and more companies want to invest in this venture. Yet it is a relatively new field that people are still exploring. Gamers have multiple queries about the mobile slot game and how it functions. This guide provides you with answers to five common questions.
Mobile slot games are an exact virtual replica of the original version that is available in a casino. It is a gambling game that includes more than two reels, and a person is supposed to place bets, then spin to win.
A slot has a specific number of symbols and icons, all of which are associated with different amounts of money. Every online slot game is connected to software called the random number generator(RNG). It creates a million possible combinations, and the results can’t be manipulated.
Well-known companies or individual creators have developed there own versions of the slot games, and every game has its features. The games can be downloaded and installed on your phones or tablets.
Some of the online slot games include the iOS slot, Android slot, or Nokia slot. In the online realm, three-reel slot games are the easiest, while multi-level bonus slot game being the toughest.
As a beginner, you should not bet any money; sites allow you to play mobile slots without any payment or risk. Try different types of slots and decide which one suits you the best. You can try your luck with free spins. Most companies offer free spins to people that are playing for the first time.
If you win anything through free spins, then you can use that cash prize to play more games. You can either play a high volatile game or tone down and divide the betting amount. There is no sure way to trick the machines and win jackpots every time.
People have certain superstitions attached to the outcomes of the RNG. First, the slot is hot or cold. People believe that a machine that hasn’t hit the jackpot in very long is about to win. People also try to prove that online slots are rigged so that people don’t hit the jackpot.
There’s an ongoing debate on whether the odds of winning are better with land-based games as compared to online. Another misconception about the online slots is that you have better chances of winning at a particular time of the day.
Not every gaming site is reliable; some might rob you and leave you bankrupt. People who are first-timers or may be prone to gambling addiction might want to take due precautions to protect themselves.
Budgeting is always the hardest when first starting out. The idea of creating a spreadsheet with a breakdown of every monthly cost and expense is so intimidating that many people put it off for a long time.
All a budget is, in essence, is a well laid out plan. When calculating a budget, what you must do is calculate the difference between your anticipated income and your fixed costs so that you can get an idea of how much you have left for desirable expenses. You don’t have to be an accountant to know how to create a budget plan though, here are some easy tips.
The first thing that you need to do when making a budget plan is to calculate your monthly fixed expenses. These include costs like rent, car insurance, payments on any auto or title loans, or insurance.
You can use a spreadsheet or budgeting app to keep things organized, and accurately access what your expenses look like each month.
Variable expenses are expenses that change month to month, and they can be a bit of a challenge to add to your budget plan. Calculating these costs is more of a judgment call than anything else, especially if they fluctuate greatly month to month.
Costs like groceries, gasoline, electricity and discretionary spending can vary monthly so setting aside a specific amount can be difficult. However, by averaging and overestimating variable costs like electricity or gasoline, you can write it into the budget without worrying that the actual costs will be more than what you’ve planned for.
Now that you’ve added up all your monthly costs, you know how much money you need to make ends meet. In a monthly budget, you want to compare these expenses to a monthly income. You don’t want to take into account a holiday bonus that you’re expecting in 6 months, because that isn’t affecting your expenses or income this month. For a monthly budget, use your monthly income to calculate any leftover funds after your expenses.
If you have a fixed income, such as a salary, or you are paid hourly with a set schedule, then this is easy. If your income is varied due to a fluctuating workload, then the best you can do is average your earnings.
Once you’ve calculated your excess income, you can figure out what to do with it. Ideally, you added discretionary spending as a line item in the budget, so your excess money shouldn’t just become spending cash. Any excess funds should go towards debt or savings. If you have more excess income than normal one month, feel free to spend it on entertainment or desirable expenses. Now that you’ve created a budget, you can spend money and still feel financially responsible.
Now that you’ve gone through the work of crafting a monthly budget that works for you, know that you have a financial plan set. Having a monthly budget makes life easier and making a physical one can better help you visualize the numbers and make adjustments without guesswork.
Making a monthly budget is not the hard part though. The difficult aspect is sticking to the budget, tracking expenses, and not making a habit of exceeding your budget. Going out to eat is fun and enjoyable, but if you do it more than you should, your available income for the month will start to eat into any excess funds you have–and possibly exceed them! If you’ve calculated for the entire month though, splurging every now and then shouldn’t throw you off track. And if you do slip up, relax because you can always get right back on track next month! So enjoy your financially responsibility!
Image source: Pexels.com.